President Donald Trump signed a major Dodd-Frank rollback into law Thursday, hoping to bring regulatory relief to community banks across the U.S. The president explained Dodd-Frank’s costly regulations gave large banks a negative advantage at the cost of small banks throughout the country. Click the headline to read more.

Items Tagged with 'Dodd-Frank Act'

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On Tuesday, the House of Representatives passed S. 2155, also known as the Economic Growth, Regulatory Relief and Consumer Protection Act. The bill rolls back reforms from the 2010 Dodd-Frank Act and promises to provide regulatory relief to credit unions and community banks.

A new report from the Wall Street Journal says the Consumer Financial Protection Bureau is considering ending the public's access to its complaints database for financial companies. “I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government,” Mulvaney told an audience at the American Bankers Association's conference while holding up a copy of the Dodd-Frank Act.

Late Wednesday, the Senate passed S. 2155, or the Economic Growth, Regulatory Relief and Consumer Protection Act, with a bipartisan vote of 67-31. Now that the bill has passed, it returns to the House for approval.

The Consumer Financial Protection Bureau put in a request for input on its adopted regulations and new rulemaking authorities. The CFPB explained it is considering whether it should amend any rules it has issued since its creation or issue rules under new rulemaking authority provided for by the Dodd-Frank Act.

The Senate passed a motion Tuesday to proceed to debate on a bill that would overhaul major parts of the Dodd-Frank Act. The Senate is expected to vote on the bill at some point this week. And one expert explained, due to its bipartisan support, the bill is expected to pass.

The Senate Banking Committee is set to begin its repeal of the Dodd-Frank Act, changing key aspects with a bill sponsored by Banking Committee Chairman Mike Crapo with nearly 20 co-sponsors on both sides of the aisle. But while most members of the housing industry support the bill, some say it encourages the finance industry to engage in the type of reckless lending that caused the Great Recession.

As directed by President Donald Trump, the U.S. Treasury published a report Friday that calls for sweeping financial reform, including changes that would weaken the Dodd-Frank Act. The report claims regulations enacted after the Great Recession made it more difficult for financial institutions to recover, and made for one of the weakest economic recoveries in U.S. history. Here are some of the changes it calls for.

In an expansive, wide-ranging interview with the New York Times, President Donald Trump stated that he would not have selected Jeff Sessions to serve as attorney general if he knew that Sessions would recuse himself from the investigation into Trump's suspected ties to Russia. And while that proclamation seems to be grabbing all the headlines, Trump also discussed a number of other issues, including his administration's push to roll back Dodd-Frank and the administration's efforts to cut regulations "tremendously."

On Thursday, the Federal Reserve announced the results of the annual stress testing, which showed that all 34 participating financial institutions are adequately capitalized and could withstand a "severe recession." It's the second year in a row that all of the participating banks passed the stress test.

More than 20 of the housing industry’s largest trade groups are calling on Congress to enact legislation that would change the leadership structure of the Consumer Financial Protection Bureau from a single director to a bipartisan commission. The groups say that a bipartisan commission would help provide a "balanced" approach to financial regulation and supervision.

This month inHousingWire magazine

He wears t-shirts to his televised interviews; not very CEO. He played sports at a high level, but rarely brings it up and when he does he talks about it as a mere chapter in his life. Honestly, who plays a Super Bowl and doesn’t describe it as the defining moment in their personal journey? Casey Crawford, that’s who. His family is a big part of his life of course, but he talks about his even larger family — his coworkers — in terms that are just as glowing.

Feature

One of the things that has bedeviled mortgage financing post-crisis has been the absence of the private label mortgage backed securities market. During the peak years, private label MBS issuance topped $1 trillion. In 2017, only $70 billion of private label RMBS were issued, although that is a big increase from 2016.

Commentary

Digital technology has disrupted businesses and industries from publishing to public transportation, so can the mortgage industry be far behind? Actually, anyone who’s applied for a mortgage recently will have recognized that things are already changing fast.